Sbi Holdings Inc Ord

Thank you very much for attending our financial results brief session despite your busy schedules today. Without further ado, I would like to go into the explanation. FY 2022 consolidated performance mostly up to the third quarter. What I have been explaining to you applies to the full year. What I mean by this is that The profit deteriorating is $30.7 billion. Vietnam, TP Bank, we had to do a write-off. Or $15.7 billion crypto asset-related business was a negative result came out, and that has impacted this full year. Regarding this full year, what I definitely wanted to do There are two things. The first is to have the revenue exceed 1 trillion yen. Unfortunately, it was 998559. We experienced a 30% plus growth, but it did not reach 1 trillion yen. In terms of the profit before income tax expenses, this is the only part we look. With this, we have exceeded 100 billion yen. Therefore, what we have forecasted and wanted to achieve, we have come close to those. Especially if you look at this, this is the comparison of consolidated profit before income tax with major securities companies. And as I have mentioned right now, it's $100.7 billion. Nomura Holdings is $149 billion. profit before income tax. And Daiwa is 96.766 billion. SMBC, Nikko had various things as a large negative. Mitsubishi UFJ is 82.9 billion. Mizuho was a negative result. This is the securities companies group. There is Nomura has a trust bank or Daiwa has the bank in their group. Therefore, this is the Apple to Apple comparison. So this was the situation. So looking at these situations, I believe that we are doing quite well. And also, in terms of the revenues, this is looking at the 10-year time frame. You can see that we have been continuing to increase. F1 21, 22, 23, we have been largely increasing the revenue. And my hope is to exceed one trillion yen. And we were slightly short to that. In terms of the profit side, we have many volatile industries, especially in the investment business. Therefore, it's quite volatile. So 30 to 40 billion to 60 to 70 billion, and we have reached the level of exceeding 100 billion. So FY 2022, SBI Shinsaibank and former Shinsaibanks, the goodwill, a lot of that was included. Therefore, if we exceed that, it's 217.1 billion. So therefore, this time, it's 100.7 billion. And looking at this by segment, the financial service businesses, for sure, is growing. Financial services business revenue is plus 78.2% year-on-year, and profit before income tax expense is plus 42%. There was the negative goodwill, which is 195.6%, but if we exclude the Shinsei Bank one, it is a 42% increase. And this part for us is the base. area in terms of businesses. Asset management business, it is starting to become the base business area, and we would like to have it to become the base business in the full scale. Investment business and crypto asset business, it goes up and down. When they're good, they go up. When they're not doing well, they go down. If you look at the South Bank's financial results on the group side, I'm sure you understand what I'm talking about. Crypto asset business, it's The market currently in terms of the legal system and system is not well established, especially in the United States. Therefore, it will still take time for the market to mature. Non-financial businesses, there's biohealth care and Web3 businesses are included. This is the quarterly revenue by segment. And looking at the revenue, financial service businesses for sure is increasing the revenue. Asset management business is surely growing as well. Investment business... When they're doing well, they're doing well. When they're not doing so well, not doing so well. That is the current situation. Crypto asset business and non-financial business is as shown. This is a quarterly profit before income tax expense by segment in an IFRS basis. As you know, within the financial institutions, we were the first ones that have implemented the IFRS. Currently, we are under an extremely difficult economic situation. If you implement IFRS, the Japanese insurance, life insurance, and mega bank or the bank financial results, I wonder what would have happened. So in that sense, it does not show up on the service. But the unrealized loss, there are quite many of them. One mega bank, I looked at their result numbers, and I was surprised. One year ago, it was $2.8 trillion unrealized gain. It's now down to only $800 billion, meaning that they have lost $2 trillion. And not just that bank, but in other companies, such as the life insurance and insurance companies, they're all having this unsurfaced loss. The IFRS, it will surface, but in Japan, they're quite devised. Because it's not surfaced this time, when we face the interest rates rising, what is going to happen? Really, Japan, I won't say they're trying to purposely hide it. If the people who know about it look at it, they will know. But the very deep down parts do not surface. Therefore, if the investors buy and sell just looking at the surface, it will become quite of a deal. So I myself... From my 50 years experience in the financial industry, this is the... I've never seen a time that is as difficult it is right now. This is what we are facing. And in terms of the dividend, basically, the financial service business, as you have seen before, is steadily growing. Therefore, we decide on the dividends based on this. So... Full year dividends is 150 yen, which is the same amount as fiscal year 2022. Total payout is 113.5%. So total shareholder return is 40.8 billion. And we will continue on the shareholder benefits. So I would like to simply explain about the business segments, financial service business. As I mentioned before, revenue year to year is a plus 78.2 percent profit before income tax expense. There was a one time a special negative goodwill occurring. And if we exclude the 150.6 billion, it is a 42 percent increase. Financial service business. The securities business is included in here. And how did the securities business perform? The operating revenue, which is equivalent to revenue, is the record high. Net operating revenue record high and operating income was a record high as well. Ordinary income was a minus 1.8% year on year. Profit attributable to owners of the company was plus 3.6%. This is the JGAAP results. And regarding the revenue or net sales structure is as so. So there is a trading revenues, and we are increasing the financial revenues. And what happens to the other commissions, the online stock trading transactions? Within the total, this comprises 11.2%. In the third quarter, it was 11.7%. Therefore, it went down further. And that is why we are going into realizing the new securities until we are trying to make this to zero. This is the like-for-like comparison of 20 main financial companies. We are just looking at the securities of business. What I've showed you before was at the holding level, the overall holding level. If we look at the securities level, Nomura Securities, we have exceeded them in ordinary profit as well as in operating profit. And Mitsubishi, Mizuho, Rakuten, Matsui, GMO, Manix, and Daiwa Securities. That is the order. I don't know why. However, I don't know the Japanese, even now the Japanese media will say the five major securities companies. Who are the major companies? And they line it up in that way. That's questionable. Because they're doing that, they're behind their time. All of them are in a time where everything is changing into digitalization. And the media, they're saying these are the five major companies. I can't believe such medias. If you do such a thing, people make mistakes. Like I have mentioned before, if everything change into IFRS or a USS standard, then you will see everything clearly. And that type of accounting standard, the companies that are using such standards, And there are companies that are using a standard that you can not see that clearly. This is the same thing. The times of physical real things have ended. And if you continue to hide such things, I will not say or conceal those things. I will not go that far, however. you will not be able to see the true situation, and investors will experience a loss. So there's quite a great responsibility on the media side. The numbers that were announced today, well, I will be announcing from now, which is related to the TOB, related price. It says 3,000 yen. Nikkei says 3,000 yen for TOB. They said ¥3,000, and the price that we said is ¥2,800. Everybody went to buy for it, but TSE stopped the trading. But if the trade was not stopped, what kind of loss would have been caused to the investors? coming out of it early or late, coming out with the news early or late, that is not the work of the media. To actually have an accurate reporting is their job. And this type of insider information, well, closely related to such insider information, if they just report it without knowing the whole story, I think as a media, they are rock bottom. If they would do such a thing, nobody's going to support them. Media, as much as possible, needs to be accurate as much as possible. Whether they report that early or late, that's irrelevant. After the Board of Directors meeting, then we can disclose that information, and that information goes to TSE. It's being examined and screened, and then we can finally officially release that information. The Accountal Financial Bureau or the FSA, it has to be taken up by them, depending on the case. And such a sensitive issue. And... At the PTS, people who bought through PTS, there were several people close to the price of 3,000 yen. And these people, of course, are going to complain. So I will say, please launch your complaint to Nikkei. Well, as the media's true mission to be conducted, I am going to provide them warning signs. writing an untrue article or just an article based on their estimations. If they write it as their own opinion, that's fine, saying that SBI's number of accounts is at 12.8 percent CAGR, and from the 2009 March to 2023 March, the CAGR is increasing. So we're in a position that is not in a position to compare with others. And this is the group's share of individual stock trading value, which is 46 percent and 47.2 percent. It is exceeding as well. Why does it increase? It's quite a simple reason. We have been consistent in a customer-centered policy. And because we do it for the customers and investors, we experience increasing. We have the lowest commission. We provide them the services. The liquidity markets, operating revenue, this has increased to a record high. Unfortunately, Silicon Valley Bank, starting with Silicon Valley Bank in the United States, the banks are... collapsing, and then the foreign exchange moves, interest rate moves. Globally, we are seeing such movement, and there's going to be high volatility. And banks sold short, and then they just reversed that for one time. But the essential issue has not changed. It has just worsened, meaning that in that short of a time, increased that much of interest rate, saying the economy is strong. the commercial practices are strong of course it is because during the covet pandemic they had that much of a subsidy from the government and that has increased the savings in percentage and that was supporting the commercial activities but then the war has started the energy prices hiking So we are in the extremely difficult times. And in this situation, how are we going to generate profit? As you can see by looking at this, because there's a factor that because there's vulnerability, we are making profits. That is why we have to diversify the customers and products. In this situation, times that we have a heightening of uncertainties. What we need to do is diversify. FX-related business, both overwhelmingly strong. And in overseas, this is a diversity. We need to diversify this, because if Japan is not doing well, go overseas. In Thailand, FY2023, their profit before income tax expenses has increased 300 million, and Royal Securities in Cambodia and the Year-ending December 31, 2022, their profit was 100 million yen. They're going to continue to grow. Bank business, SBI Shinsui Bank. Gross operating profit plus 10.4. Ordinary business profit plus 26.5%. Profit before income tax expenses plus 82%. Profit attributable to owners of the companies, 110.3%. This is based on JGAP. With this, in IFRS, how much were we able to gain? It's 54.6 billion yen in terms of profit before income tax expenses. Number of retail accounts. Well, we became the market's largest shareholder, and as made it a subsidiary company of ours, Shinseng Bank continued to grow. And the deposits. is getting close to 10 trillion, and also the number of accounts is close to 3.16 million. It's finally have turned around. For a long time, the deposit balance has now turned around largely. Of course, Japan is going to experience an increase in interest rate. Therefore, at this time, increasing the deposit has quite a bit of meaning for a bank business. SBI submission, NetBank.

For 23 March, on June, in September 29th, we were able to go to market at a cheap price We were able to do the offering, and then after, share prices obviously went up substantially. I also think this is an issue, though. Why at that phase? Well, Rockton Bank probably feels the same. Why did they have to go to market a cheap price? The issuer's profit was neglected. And they were being protective of themselves. Was that the case? When it comes to underwriters, I think they need to take on more risk. No, they might say it doesn't fit overseas. In that case, they should just try to do something domestically in Japan. Why do the Japanese underwriters... have to depend so much on the overseas international markets. Of course, the international markets will try to bring the prices down by huddling together. So direct listings should happen. If it's a large scale, that should happen more and more. Without going through brokers, companies should directly list on the market. Several times the FSA was saying that the offering price is a little too low. The gap between the offering price and the stock price then after was too substantial. And experts were also saying so. So why is not this issue being rectified? So performance of SBI submission net bank, $29,390,000,000 was the ordinary profit, which increased by 26.3%. Our investment profit on a pickup basis was $4.8 billion. So why is it declining? Because our ownership used to be 50%, but it went down. I think it's now at 36.2%. Therefore, the profit pickup went down as well. But we were also able to get gains on sales of shares. So for SBI submission net bank, since its establishment, it has continued to increase the balance of deposits as well as the number of accounts. So now deposits are around 8 trillion yen in balance. 6.15 million accounts are supporting the performance. SBI Savings Bank in South Korea is next. Performance used to be good, but this time around, the profit before income tax expenses went down by 29.9% on an IFRS basis. Like the U.S., rates went up. And obviously, when rates go up, bank earnings... does not go up immediately. It goes down once. I'm sure that, however, we will see a recovery. And they have stopped raising rates. So in the second half of the year, performance improvement is expected. So that's what I've been hearing from my people. Also, in the case of South Korea, we need to watch out for people who live in the property market more than Japan. And we have a tendency where they start to pursue business opportunities in property. So I said no. So in this bank's case, the exposure is minimal. Therefore, that has turned out to be a success. So they are starting to learn what I said is right now. So for real estate in South Korea... There is an aspect where it's driving the economy. However, once things start to deteriorate, it becomes the most scariest. That's why I was saying that we should have a broad base of customers collecting deposits and lending to them in a steady way. And I've been saying that that's the safest way to do business all along. since we acquired the business in 2013. I have continued to say so, and that's how the business turned out to be. So when we acquired the business, the liquid rates used to be 51.6% for all loans. However, it was around 1.something percent. Now it's a little bit up to 3.36%. But we have been able to settle at that level, and we're expecting a recovery from the second half, so I think we're fine. Other foreign banks. For TP Bank in Vietnam, performance continued to climb steadily. But Ho Chi Minh, the market has continued to deteriorate. Therefore, valuation losses were recognized at 30.7 billion, like I mentioned earlier. So this was a damage for us regarding its performance. However, in the backdrop, The number of shares we had was 19.9% ownership. If we had 20% on an equity accounted basis, we wouldn't have to have done the write-offs. However, because the 20% is the maximum, as a system in the same company, foreign investors' ownership is not able to exceed that level. Therefore, with these two conditions of police, 30 percent is the level we shouldn't exceed. And we were already at 30 percent. And because there was an interested buyer, we were able to reduce it to 20 percent. But now we are fine. So this is Russia. There may be concerns that the business is going to go down, but we were able to see profits for 486 million for Q1 for the year ending December 2023. And for LY, our bank in Cambodia, which we own 70% of, $169 million was a profit before tax for Q1. And for the full year, it was $921 million for the year ended December 2022. So it's growing at a good rate. So I'm really looking forward to Vietnam as well as to Cambodia as well. So total assets of the banking assessment in the SBI group are shown here. It has reached around $26 trillion on a pure capital. So when you compare this against others, Fukuoka Financial Group is at $28 trillion and Concordia is at $24 trillion. and so forth. Looking at the insurance business, SBI insurance groups, consolidated performance is shown here. Ordinary revenue went up by 8.8 percent at 96,110,000,000. Ordinary profit was 6.3 billion, up 6.5 percent. Profit attributable to parent of the company was 1.24 billion, up by 39.1 percent. For dividends, we are paying out 10 yen a share. And also, regarding enforced contracts, it has been steadily increasing. Kager has been 14.6% from 2016 March through March 23. For the asset management business, the reason why it's growing is because the Morningstar brand has been returned to the U.S. Morningstar. We've been receiving 8% billion in return. So this 8 billion, we would like to use it for M&A in order to acquire a quality entity. That's what we're trying to do. And this business has grown steadily as well. And as one of the pillars of our business, we would like to nurture the asset management business even more. The Morningstar grant has been taken off for this intent. For Rios Capital Works, it has been listed. We own 48.89%. The name is going to change to SBI Rios going forward. We're actually discussing whether we should change the name or not. I will probably make the final decision. So SBI Global Asset Management. This is basically the new name for former Morningstar. Underneath, we will have SBI Asset Management, Wealth Advisor, and Carrot. The investment business is the next slide. So this is mainly about the private equity business these days. It has been challenging. However, for the unlisted securities, we still have positive profits. Although it has declined, we are still positive at $18.181 billion. For the list of securities, it was hit straight by market trends. So for about 40 companies are expected to list in fiscal year 2023. And for private equity... It excludes $257.1 billion of both cash and commitment amount to be paid, but private equity is around $682.4 billion. So this is one of the greatest private equity companies in Japan already for SBI leasing services. It used to be too good before in the previous fiscal year. So it's down at the bottom line. But realistically speaking, this is basically the performance. For crypto asset business, FTX, as well as others, went bankrupt. So we were hit by losses. From our point of view, we may have needed to have scrutinized the business a little bit more in hindsight 2020. But we are leaving this business to our international people, and it was being managed by the international employees. But now when it comes to budget management, In managing investments, we are scrutinizing the details more than before. That's how high the volatility of this business was. $18.5 billion was the amount we were hit by. For the non-financial businesses, I feel that we need to change the name of these businesses because Web3 does include some financial businesses like LeFi and so forth. So I'm contemplating about this name, but right now it's defined as non-financial businesses. Of course, it does include biotechnology, healthcare, medical informatics businesses, which are, in fact, non-financial. But in Web3, There are, in part, some non-financial businesses. So there's various types of businesses included, basically. So this is the ALA business as well as the biotech business. For the biotech business, for March 23, milestone revenues declined. So profit before tax declined. But we are preparing for an IPO. And it has a good pipeline for the ALA business. Things are going well. But we are spending quite a lot of R&D at the same time. So that is why we're seeing these results. And for SPI Alla Promo, which is mainly engaged in sales, it is also preparing for an IPO. So Alla Promo is selling these products like Alla Plus Toe Down, Gold EX, basically products that contain Alla. And also Deep Sleep, Fukai Nemuri, or Hirokan Kegen, fatigue mitigation or melting care. Drinks are also available online. that all contain ala. One ingredient can be applied in various ways, and the consumer's office acknowledges its impact, and it's being applied for cosmetic products nowadays as well. There are over 20,000 distributors now nationwide in Japan. So finally, we've been seeing good growth, and that is why we decided to go to the market. Furthermore, for Machinoa, which is also another non-financial business, this is a local currency business in neighborhood shopping areas. You're able to use this. It comes with premium e-coupons. It's also another part of business. And we do this as a joint venture with Chikuho and so forth. And it has turned to the black market. and we expand the service to 50 regions nationwide. So going into the main topic, I touched upon this earlier, but the global economy is in a state of chaos, and uncertainty is increasing even more than at the time of the Lehman crisis. That's how I feel. So under this circumstance, the SBI group, we'd like to focus on three areas on a group-wide basis. in a detailed way so that we could diversify the risk and also expand our revenue sources and develop more revenue sources. In times like this, we need to thoroughly expand our customer base and diversify our customer base. This is the way we should go. In this way, we would like to diversify risks so that we can manage to overcome this these challenging times. Even back in the Lehman crisis days, we took a series of measures, and as a result, we didn't need any help, and we were able to survive, and we were able to come out strong in light of the crisis. So we need to think ahead of others and take action. Back in the Lehman days in South Korea, we sold all of the shares before the Paribas shock of Gyoho Life Insurance. And E-Trade Korea, which we made from scratch, we decided to take care and get rid of it. And moreover, there was a listed entity, SBIE Trade. We decided to buy it back. So those are the series of measures we took in order to prepare for living crisis. we would like to increase the customer base as much as possible and diversify the customer base as much as possible. In order to diversify customers, we need to diversify financial products and services, as well as business fields. In this way, even if one thing doesn't work out well, we want to create a situation where the other part of our business is doing well. In difficult times like this, this is a must. So regarding diversification of customers, how are we going to do about this? When it comes to our customers, we already have 45,647,000 customers, but we would like to bring this up to 100 million as soon as possible. And one way of doing this is to promote neo-securities initiative. This will be our weapon. In fiscal 23, first half, we would like to launch the neo-securities initiative, and we are preparing right now. So for commissions that investors are burdening right now, we would like to make this free and eliminate their trading fees. Since the 1999 founding of our company, when it comes to commission, when you look at the basis trends, which is brokerage commission divided by brokerage trading value, it has come down to a very low level, to a marginal level, actually. So it's overwhelmingly low cost. And we have been thorough with our customer-centric approach. And that is the reason why we have been able to establish top position inside our industry.

To reduce transaction costs for investors, we have been taking various measures since 2019, one after another until today. We have been announcing measures that have been realized to date. As a result of such, for us, if you look at the revenue through online trading, the domestic stock brokerage commissions from online trading, which are free of charge, now that ratio... has been down to 11.2 percent of operating revenue and a third quarter which was 10.4 so there has been a significant decline. So how are we maintaining our revenue? From margin trading, the open interest credit balance and financial revenue increased significantly, or rather, the investment trust balance, quarterly balance, was record high, and investment trust fees, comparing year to year, increased 9.5%. And FX business trading revenues has become one of the pillars of revenue. Perhaps for customers, if you realize this, I believe that we will be able to achieve 20 million soon. Now, from 10 million accounts to 20 million accounts, it is not difficult to reach that level. Then what is going to be a challenge for us? That is systems. Therefore, in order to address the systems issue, in January, we have established a joint venture with Simplex, SBI Simplex Solutions. This company was established. which was incorporated on February 28th. And the Capital and Business Alliance was formed and signed in January in 2023. So by doing this, we are strengthening the system so that we can accommodate that money as 20 million accounts. When the number of customers increase, for example, the customers who opened accounts with SBI securities, many of them are actually neophytes or novice. They may be interested in doing some other transactions such as margin trading or IPO trading within SBI group. For example, purchasing domestic and foreign bonds or FX and also foreign stocks and so forth. They will increase transactions within the group and exceeding the boundary of group. There is the outside and inside of the ecosystem of the group of SBI. The customers may be migrating to different entities. And then on the contrary, the customers within the ecosystem of the group may be interested into this area as well if the commission is now zero. And then they may be interested in transcending the borders of the ecosystem. Now, collaboration with SMBC Group. Now moving to the next phase. We have been doing many things. I myself believe that this mobile comprehensive financial service of SMBC Group is providing a leave. For us, this is really appreciated by us. And this, SBI Securities, It's a main provider of online securities and with Mitsumitomo Mitsui Banking Corporation and a Mitsumitomo Mitsui cards application can be utilized in order to provide the very highly convenient securities related services through their applications. And a viewpoint can be applicable and acquiring 2 million securities accounts in the first five years and in three years, 50 billion yen in amount was accumulated funds through credit card in three years will be achieved. And this is what we are aiming at and we are currently discussing on the measures to be taken. So far, what kind of customers we have acquired so far? Based upon our analysis, more than 50% of customers inflow from Olive are under 20s. And more than 90% of customers inflow from Olive are neophyte investors. For us, this is exactly what we wanted to acquire. With this alliance, through Olive and Mitsui Sumitomo Card and also Sumitomo Mitsui Bank, it is now possible to get the brokerage from them. And so to speak, Sumitomo Mitsui Banking brokerage customers have relatively high income and financial asset base with rich experience in investment. Also, age brackets are relatively higher. And we are aiming at the further expansion of the multi-point ecosystem. Rakuten is making its own Rakuten ecosystem to encircle customers within their ecosystem. And we are touting the multi-point ecosystem, T-point and V-point and Ponta-point and D-point and so forth. We are expanding our alliance and partnership with various partners in order to carry through multi-point ecosystem. This is the multi-card strategy. Through credit card, customers are now expanding accumulation funds through credit cards. At the end of March 2023, now 18.2 billion yen has been accumulated through this scheme. We are working towards expanding business and financial corporate clients by leveraging the diverse management resources of the SPI group companies. Rather, so far, we have been targeting individual retail customers. But now... when we decided to buy Shinsui Bank. And one of the significance of buying Shinsui Bank was to expand the corporate market business and also the financial institutions with whom we have partnered. And also, furthermore, there are various measures to strengthen their partnership. And this acquisition can be one of the measures to strengthen partnership with financial institutions. That's what I said to my people. And now, at last, we are embarking on the expansion of our entry into our corporate market. As I said earlier, underwriting, we are making very stretched So that we will avoid making the losses and making the customers who buy happy and also the issuing companies will become happier and we need to promote underwriting in that way. For insurance business as well, we are trying to meet the needs of corporate partners by expanding the products and services to meet those needs. Anyhow, with the diversifying customers, and one of the big factors for this is to aim at gaining business with financial and corporate clients, we need to expand and build this customer base in this segment thoroughly. All the entities in our group will come up with their products and services in order to approach and attack the corporate market clients. Now, securities business. The underwriting share in IPO is 98.9%. From April 2022 through March 23, there was the 93 companies and we have been able to become the lead manager for 15 companies and 98.98% underwriting share and also we are focusing on the underwriting business for corporate bond and for the electric power company bonds we are asked to lead the management of the underwriting lead manager from There were 15 companies. As lead manager, we were engaged in the dealings between April 22 through March 2023. What is necessary in targeting the corporate market is the M&A advisory. And M&A advisory division was established within SBI securities. and supports that the one is set for the FY 2018. And 7.5 times of the advisory revenue was gained for fiscal year 2022. So I believe that this has been announced today. And Tsuji Hongo. with whom we have been doing a lot of cooperation, M&A Solution of SBI and Tsuji Hongo M&A Solution. We are going to merge together so that we'll be able to strengthen M&A for business succession. The timing of the merge is October 2023. for corporate market, the FX market, and OTC trading of currency-related derivatives, including futures and options. In this segment, we have been working with Mrs. Watanabe or retail customers, but now we'd like to increase corporate customers. corporate market. Daily transaction value is 74 trillion yen. Therefore, this represents huge market. Furthermore, the They integrated private REIT investment in the broad array of real estate. So in order to do this business, on 8th of May, we announced that SBI private REIT investment corporation shall be established and then 100 billion yen in three to five years and 500 billion yen in 10 years. That is the image of the fund size. When I was in New York, Well, I don't think that there are many Japanese people in your business negotiation, but equity and bonds are not enough, and cash management needs to be added, and also management of the property needs to be added. These sections are a must. in approaching customers. And then REIT, or private REIT. I thought that this would be the best approach. Therefore, we decided to enter into this segment. And we are increasing corporate and financial customers through collaboration with the SBI Shinsaibank Group. And there are Atlas Lake and others. So we have been increasing the lease and others by having the organic synergy so that we will be able to expand significantly the customer basis in the corporate finance areas. from SBA Sinse Bank to investees or SBA securities. And then the loans and the investment Fifty-one transactions have been already executed amounting to 109.2 billion yen by SSBI's Shinsaibank for venture debts and investments and loans to investees. We'd like to increase this. Apple's bank kit is quite easy to use and a very good system, I believe. For example, for those who are considering issuing the new application, white label plan can be offered. And for those companies already offering apps, embedded plan. These two plans are offered. And by doing so, bars, various ways of bars will be provided. This is what we would like to do. And the insurance business continues to actively promote products development, provision of services to meet the needs of corporate partners. For example, APLAS will deal with the SBI insurance and life insurance products to meet the needs of customers. And SBI insurance will utilize the service services Castella of a Sumitomo Mitsui card. To commence the automobile insurance solicitation initiatives, and also SBA Insurance started providing special automobile insurance for BYD, an electric EV car manufacturer. So there are various products and services to be deployed. And also funeral, a funeral service company and a pet service company and a bridal-related service company's Through these companies, we are forming a partnership in order to provide our products to expand our customer base. SBI NEO Corporate Services for corporate clients. This company provides business matching services for corporate clients in May 2022. A so-called value place was established and launched and there are over 25 diverse categories are provided in order to provide selected corporate services. And companies can have options from this. Or the second round of business matching in various ways, for example, web operators and HRs and also for general affairs and for salespersons and HR staff and so forth. As you can see here, this is very convenient. And nearly 200 services from around 100 companies are listed here.